Cryptocurrency lobbying group submits court brief in support of lawsuit against SEC, seeking clarification on token airdrop issue

【Cryptocurrency lobbying group submits court brief in support of lawsuit against SEC, seeking clarification on token airdrop issue】29 October news, according to The Block, a Washington-based cryptocurrency lobbying group submitted a 'friend of the court' brief to support Beba's lawsuit against the U.S. Securities and Exchange Commission (SEC) filed in March this year, aiming to obtain a clearer legal status for token airdrops. Beba and the DeFi Education Fund sued the SEC in March this year, arguing that token airdrops do not violate the Howey Test. Shortly after the lawsuit was filed, the SEC moved to dismiss the case, and the Blockchain Association and the Cryptocurrency Committee requested the court to dismiss that motion and support the plaintiffs' relief request.